S. Korea's department store sales rise in Nov.

By Lee Youkyung
SEOUL, Dec. 1 (Yonhap) -- Sales by South Korean department stores sharply
increased in November from a year earlier as consumers snatched up winter
clothing and luxury goods, major retailers here said Tuesday.
Discount outlet sales, however, logged slight falls from a year earlier as a
result of subdued marketing and promotional activities, they said.
Sales by Lotte Department Store, the flagship unit of leading retailer Lotte
Shopping Co., rose 8.7 percent in November from a year ago. Combined sales at its
25 stores, excluding two that had not yet opened in November 2008, were up 6.9
percent from a year earlier, it said.
Exact sales figures were not available.
During the cited month, Hyundai Department Store Co., Lotte's smaller rival, saw
sales of its 11 department chains nationwide gain 7.5 percent from the previous
year. Combined sales with its recently opened Uplex store rose 9 percent in the
same period, according to the company.
Sales at Shinsegae Department Store, a unit of South Korea's second-largest
retailer Shinsegae Group, soared 31.4 percent on year in November. Excluding its
latest store that launched in March, the sales rose 15.1 percent on year, it
said.
Officials at the three major department stores attributed the increased sales to
robust demand for winter clothing and outdoor goods for the winter season, as
well as higher luxury goods sales.
Lotte said sales of its outdoor goods jumped 26.1 percent from a year ago, while
sporting goods rose 21.7 percent in the same period.
Hyundai said its luxury goods posted the biggest growth among other products with
their sales up 20 percent from a year earlier.
Sales of luxury goods at Shinsegae spiked 65.9 percent on year, while sales of
cosmetics shot up 43.4 percent, the company said.
South Korea's major discount stores, however, posted weaker sales in November
compared with a year earlier.
E-Mart, a discount chain owned by Shinsegae Group, said its sales declined 1.2
percent in November from a year ago while Lotte Mart's November sales inched down
0.3 percent on-year.
An E-Mart official said the store ended promotional activities at the end of
October and that grocery and clothing sales have fallen.
Sales trends at major department stores and discount outlets in South Korea are
key indicators of Korean consumer sentiment.
ylee@yna.co.kr
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